Buying Tips

When looking to purchase your new home or investment property, that suits all your needs & lifestyle, it can be a daunting task in itself without first having the right advice. We have compiled a useful outline of tips that can make the process an enjoyable event that will set on the right track to a successful purchase.

The first & most important task ahead of you is speaking to a financial consultant. This will inform you of price range you are in & the best loan that suits all your requirements.

Know what you want. Prepare a short list of preferred areas that suit your lifestyle. Always keep in mind affordability & accommodation requirements.

Research recent sales in your preferred areas using the internet, newspapers, real estate guides, agents, etc. This will inform you of what type of property your money will get you.

Contact & build a relationship with your Harrods Real Estate Sales Consultant. Use their knowledge & expertise in your proceedings and they will also alert you of new listings before they are publicly advertised.

When the property that suits your requirements is found & you wish to proceed to purchase have your Harrods Real Estate Sales Consultant send a copy of the contract to your solicitor or conveyancer.

Once you have found the property you want, we recommend, that a building & pest inspection is obtained to make you aware of any defects that may be associated with the property. Depending on the contract, the type of property, etc, your solicitor or conveyancer may also request further inspections to take place. This is done to protect your interest in the property.

When all the inspections have been finalised, taking into account the results of such inspections, the property itself, you are now able to make an informed decision to make a formal offer on the property through your Harrods Real Estate Sales Consultant.

If the property you are interested in purchasing is to be sold by Public Auction, make sure you following the preceding advise before attending the auction. It is also recommended that you read the “Bidders Guide” from the department of Fair Trading before attending the auction. Harrods Real Estate can give you a copy or you can visit: www.fairtrading.nsw.gov.au

When you & the vendor have agreed on the purchase price & all negotiations are finalised, you then sign the contract for sale & pay the 10% deposit. This is when the contract is exchanged.

Prior to the settlement day, your solicitor or conveyancer will request that you make a final inspection of the property. This final inspection is to ensure that the property is in the same condition as it was when you last inspected it & that all the inclusions are as per contract.

The time between exchange and settlement of the property transaction is usually six weeks. Use this time productively. Make all necessary arrangements for moving early so when the settlement date finally arrive, it will be pleasurable.